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New Interest Rate Thresholds

On 9 March 2015 Federal Law No. 32-FZ "On Amending Part II of the Tax Code of the Russian Federation", dated 8 March 2015, entered into force.

The Law is aimed at softening the negative tax effect on borrowings resulting from ruble devaluation and changes the interest rate thresholds for determination of debtor’s deductible expenses and creditor’s taxable income.

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